Firefly Aerospace Joins Forces with AE Industrial Partners

AE Industrial Partners has reached a definitive agreement to acquire a significant stake in Firefly Aerospace from Noosphere Venture Partners LP ("Noosphere"). Transaction closing is subject to the satisfaction of regulatory approvals, including Hart-Scott-Rodino ("HSR") clearance. Other terms of the transaction were not disclosed.

With the acquisition of Noosphere's stake in Firefly, AEI will further expand its robust space investment portfolio, which includes investments in Redwire Space and Sierra Space. With the previous support and investment from Noosphere, the Company is now positioned for robust growth in the space transportation market. Firefly raised Series A financing in May of 2021 at a $1.1 billion valuation. Firefly performed its first launch of Alpha, its flagship launch vehicle, in September, and its second vehicle is awaiting necessary approvals ahead of its launch. Firefly has also recently completed the "critical design review" phase for its Blue Ghost Lunar Lander Program, bringing the Company one step closer to launching in late 2023.

Having recently achieved several major milestones, Firefly is at an inflection point, and AEI's acquisition will allow the company to realize the significant opportunities ahead. AEI's portfolio companies have a history of serving as strategic partners to the top national security agencies, including the Department of Defense. AEI believes that leveraging this experience will be a critical advantage as Firefly looks to secure additional U.S. Federal Government contracts.

Firefly Aerospace is developing a family of launch and in-space vehicles and services that provide industry-leading affordability, convenience, and reliability. Firefly's launch vehicles utilize common technologies, manufacturing infrastructure and launch capabilities, providing LEO launch solutions for up to ten metric tons of payload at the lowest cost per kg in the small-launch class. Combined with Firefly's in-space vehicles, such as the Space Utility Vehicle and Blue Ghost Lunar Lander, Firefly provides the space industry with a single source for missions from LEO to the surface of the Moon or beyond.

(Source: AE Industrial Partners news release. Image from file)